news 
Title: Pakistan Forms New ‘Crypto Council’ to Regulate Blockchain and Digital Assets
Pakistan has taken a significant step in the crypto space by establishing a dedicated “Crypto Council” to oversee the regulation of blockchain and digital assets. This move is aimed at providing a framework for the growth and development of the country’s digital asset ecosystem, while ensuring the safety and security of investors.
The newly formed Crypto Council will be responsible for setting standards and guidelines for the cryptocurrency market in Pakistan. It will also work closely with relevant government agencies to ensure compliance with existing laws and regulations.
In a statement, the Pakistani authorities emphasized that their goal is to create a favorable environment for innovation and growth in the digital asset space. They believe that this new council will play a crucial role in promoting transparency, accountability, and consumer protection in the market.
“We are excited to announce the establishment of the Crypto Council, which marks a significant milestone in our efforts to foster innovation and economic growth in Pakistan,” said a senior government official. “We believe that this initiative will not only promote the development of digital assets but also protect investors from potential risks associated with these instruments.”
The council’s mandate is broad, as it aims to:
1. Regulate the exchange of cryptocurrencies and other digital assets
2. Develop standards for digital asset trading and custody services
3. Provide education and awareness about cryptocurrency markets and regulations
4. Collaborate with international organizations and industry experts to stay updated on global best practices
Pakistan’s move comes at a time when many countries are scrambling to create regulatory frameworks for the rapidly evolving crypto space. The country is well-positioned to leverage its strategic location and growing digital infrastructure to become a significant player in this sector.
In related news, I’d like to highlight some interesting developments from the global crypto market:
* Russia’s oil companies have started using Bitcoin and other digital currencies for cross-border payments with China and India, marking a significant shift towards decentralized transactions.
Source: https://cryptoslate.com/pakistan-forms-new-crypto-council-to-regulate-blockchain-and-digital-assets/
